Renaissance Group LLC Has $291,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Renaissance Group LLC cut its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 26.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,321 shares of the textile maker’s stock after selling 1,524 shares during the quarter. Renaissance Group LLC’s holdings in Skechers U.S.A. were worth $291,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Stifel Financial Corp raised its position in shares of Skechers U.S.A. by 120.7% during the third quarter. Stifel Financial Corp now owns 72,808 shares of the textile maker’s stock worth $4,872,000 after purchasing an additional 39,819 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Skechers U.S.A. by 39.0% in the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock valued at $68,630,000 after purchasing an additional 287,939 shares in the last quarter. National Bank of Canada FI lifted its stake in Skechers U.S.A. by 2,340.0% in the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after acquiring an additional 67,812 shares in the last quarter. Vestcor Inc bought a new stake in shares of Skechers U.S.A. in the third quarter worth $730,000. Finally, Foyston Gordon & Payne Inc acquired a new position in shares of Skechers U.S.A. during the 3rd quarter worth about $207,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $45.35 on Wednesday. The stock has a market cap of $6.77 billion, a PE ratio of 10.93, a PEG ratio of 1.11 and a beta of 1.08. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm’s fifty day moving average price is $60.55 and its two-hundred day moving average price is $64.40.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, equities analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Michael Greenberg sold 33,656 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,044,938.56. Following the completion of the sale, the president now directly owns 137,530 shares of the company’s stock, valued at $8,356,322.80. The trade was a 19.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 over the last ninety days. 24.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKX shares. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. UBS Group decreased their price target on shares of Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Bank of America reduced their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.42.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.